HCMC – Vietnam’s benchmark VN-Index tumbled nearly 95 points at the close today, October 20, its steepest single-day decline on record, as selling pressure swept across most sectors and more than 100 stocks hit their daily floor prices.
The VN-Index dropped 94.76 points, or 5.47%, to close at 1,636.43. On the Hochiminh Stock Exchange (HOSE), 325 stocks fell while only 34 advanced, including 108 that hit their daily lower limits.
Trading volume surged 33.9% from the previous session to 1.7 billion shares, while value increased 26% to VND53 trillion. Block deals accounted for 71.2 million shares worth VND2.7 trillion.
The market opened lower and continued to fall through the session, breaching key support levels around 1,660-1,670 points. Blue-chip stocks led the plunge, with all 30 VN30 components losing ground. Real estate and steel stocks were among the biggest losers.
Nearly half hit their floor prices. VIC, VHM, VCB, TCB, and BID together took away about 29 points off the main index.
Banking and securities stocks saw heavy losses. SSI, VCI, VIX, HCM, and those of other stock brokerages dropped to their floor prices, while major lenders including SHB, MBB, VPB, TCB, and HDB also plunged.
The telecommunications sector was the only group to end higher, supported by gains in VTP and CTR, which advanced 4.5% and 3.9%, respectively.
Lender SHB took the lead by liquidity with over 157 million shares changing hands, followed by HPG and MBB. All of them closed at their floor prices.
On the Hanoi Stock Exchange, the HNX-Index shed 13.09 points, or 4.74%, to 263.02, with 142 decliners and 28 gainers. Trading volume reached 190 million shares worth VND4.55 trillion.
After two consecutive sessions of sharp declines, the VN-Index has dropped below 1,650 points, breaking key technical levels and signaling continued downside risks despite a surge in bargain-hunting activity.
